/LB (lumber futures contract) appears poised for a breakout above this 30-minute downtrend line & will trigger a buy signal on a solid break above. Note: The price targets on this 30m chart have been slightly revised from the 60m chart covered in recent videos.
LB 30m July 1st
Also worth noting is the fact that lumber futures made a backfill of the Jan 20/21 gap (i.e.- kissed the 700 gap support level) that was highlighted on the daily chart in recent videos. To the best of my knowledge, there is not an ETN that directly tracks lumber futures. As such, WOOD & CUT (timber & forestry companies) is the closest proxy for trading lumber futures, although they don’t move in perfect lock-step with lumber prices.